For Immediate Release
Office of the Press Secretary
September 27, 2003

Cooperation in Housing and Urban Development Fact Sheet
U.S.-Russia Cooperation in Housing and Urban Development Fact Sheet

On September 22, 2003, Housing and Urban Development (HUD) Secretary
Martinez and Chairman of the State Committee on Construction
(Gosstroy), Nicolay Koshman signed a Memorandum of Cooperation. The
Memorandum establishes the framework for future joint activities in
housing and urban development, particularly affordable housing for
lower income families and urban reinvestment strategies.

HUD, focusing on information exchanges, will organize a series of
joint conferences and exchanges in policy development, research, and
program management studies. The new cooperation will identify ways to
strengthen the housing finance system, especially the mortgage markets,
and to institute changes in housing construction technology and
management operations.

Secretary Martinez will make his first visit to Russia in November
to finalize the bilateral work program.